Business Plan
1. Business Information
a) Name of business:
ROFL
b) Type of business organization
Partnership
2. What is the big deal
We would like to create one of the first High School Hang out lounge in
Vancouver. It will be appealing to the teens in the Richmond area. Should this business
be successful we’ll be expanding to the Vancouver area. We’ll be offering a variety of
different food, with a very easy going atmosphere. This place will also be a good place
for teens to study, as it will have a wi-fi zone which allows wireless connection to the
internet if you have a laptop.
3. Operations
a) Products
Our lounge is will offer a different ambiance in each room. We will provide a
room filled with different kinds of reasearch books, and internet connection for students
that are there to do their homework. In our other rooms, they are free to do whatever they
please. They will be able to order food, watch tv, and even play some pool. Music will
be offered in seperate rooms, and a br for those students there to hang out and just want
to have a little snack.
b) Management
Nina Mongcal:
-Marketing director, in charge of advertising and bringing customers
in the store
Manu Chahal:
-Fianance person, whose goal is to make the reastaraunt a profit
Ajit Chandi:
-Head Chef, responsible for making food as low priced as possible
and as quick as possible with the best quality possible.
C) Prices and Cost
Since the store is geared towards teenagers, the prices of this lounge have to be
kept low. The prices in this lounge will be compared to the prices in Mcdonalds. In order
to prevent alienation of the potential market, which will be primarly teenagers, we will
keep costs low in order to keep prices low.
D) Promotion and Advertising
Since our potential market are the senior highschool students, we will spread out
flyers around the schools near our lounge.
E) Customers
Since our potential market are the senior highschool students in Vancouver. We
estimate that there are about 100, 000 students in Vancouver. We are targeting around
30% of the population.
F) Competition
A large portion of our competition is composed of bubble tea parlours. There are
around 10 parlours near our location which may potentially target the high school
students as well
Their Strenghts:
- they specialize in a certain type of drink with countless of flavors
- good atmosphere to hang out
- regular customers
- easily accessible
Their Weakness:
- slow service
- no internet connection
- no library or quiet place to do homework or study
- they dont have pool
G) Financing
We, Manu Chahal, Nina Mongcal, and Ajit Chandi will equally invest in this
project. We will each put up 30,000 and we will borrow 25,000 from the bank.
H) Location
We are located in Vancouver in between Denman Street and West Georgia Street
. We feel that this is the best location for us because it is located near Senior Secondary
schools and is within driving distance.
I) Facilities Required
We need freezers, a property, parking lot, and a storage area that will be behind
the store, and washroom facilities located within the store.
J) Projected Income
Our projected income is estimated to be approximately $150,000 in sales in the
first year, generating $35,000 of profit within the first year alone. Our numbers are
indicating an estimated $100,000 in profit in the following year, and a $15,000 increase
each year for 7 years.